Gap between temp, perm jobs narrow as salaries de-grow
Hyundai Motor India Ltd (HMIL) said its SUV Creta has crossed five lakh cumulative sales mark in India. The model also remains the best-selling SUV for three consecutive months, May-July, this year. Its new version was launched in March this year. "Creta has been the blockbuster model in the Indian automobile industry ever since its launch in 2015," HMIL director (sales, marketing and service) Tarun Garg said.
De-growth in salaries in several job profiles has led to the reduction of gap between temporary and permanent jobs in a large number of sectors, says Teamlease Services.
As per the Jobs and Salaries Primer survey, 15 out of 17 sectors have achieved near pay parity between temporary and permanent salaries. These sectors include automobile and allied sectors, BFSI, BPO, construction and real estate, educational services, fast moving consumer durables, FMCG, healthcare and pharmaceuticals, IT, hospitality, industrial manufacturing and allied sectors, media and entertainment, power and energy, retail and telecommunications.
Among these 15 sectors, BFSI, construction and real estate, media and entertainment as well as telecommunications have seen variance which is significantly less than 5 per cent. These sectors also fall under the category of bottom paymasters.
“The narrowing of the gap between the temporary and permanent jobs had been happening even before the pandemic. The economic slowdown had already been affecting the salaries,” said Rituparna Chakraborty, co-founder and executive vice president of TeamLease Services.
According to her, if the average variance was 4.7 per cent in 2019, it came down to 4.3 per cent in 2020. “Covid-19 would have reduced the termperm gap further. Our estimate is around cent,” she said.
The pandemic has seen de-growth in salaries of several permanent job profiles in these sectors. According to Chakraborty, across sectors an estimated 79 per cent of job roles have been affected by a salary stagnation or salary de-growth.
However, the study also finds that a few select jobs are still commanding a salary growth despite the Covid-19 impact on the sectors. These include Hadoop developer in BFSI, animators working in the educational services, Collection Officer in industrial manufacturing and allied and digital marketing heads in information technology and knowledge services. 4 per
Some of the largest tech companies—including Apple, Facebook, Amazon and Microsoft—are the latest to join the court battle against President Donald Trump's ban on new visas for temporary foreign workers.
The group asked a court on Monday to be allowed to add the industry's voice to a lawsuit opposing the ban, saying it's causing "irreparable harm on businesses and the nation's economy."
Trump issued a proclamation on June 22 that suspends a host of nonimmigrant visa programmes, including H-1B visas for high-skill specialty occupations, H-2B visas for non-agricultural workers, and L-1 visas for intra-company transfers.
Among the other tech companies seeking to weigh into the federal court case in Oakland, California, are Adobe Inc, GitHub Inc and Intel Corp. The 52 companies separately filed a similar request in a challenge to Trump's actions pending in Washington.
"The president's suspension of non-immigrant visa programmes, supposedly to 'protect' American workers, actually harms those workers, their employers, and the economy," the group said in its friend-of-the-court filing. "Rather than shielding domestic workers from the threat of foreign competition, the proclamation all but ensures that firms will need to hire abroad to fill highly skilled positions, for which the domestic demand far exceeds the available supply of workers."
Separately, Google, Spotify USA Inc and Bloomberg LP submitted a request to add their support for a court order blocking Trump's policy.